Minesto’s Annual Report in Swedish for the financial year 2024 is now available on the company’s website.

CEO Dr Martin Edlund: “Minesto has now demonstrated competitive renewable energy production from an untapped natural resource based on a truly novel and proprietary innovation.”

CEO Dr Martin Edlund: “During third quarter we have completed the business case for project investment in Hestfjord Phase 1 (Faroe Islands) based on Dragon 12 test results. We have also hosted numerous visits from both local and international partners at our facility in Vestmanna.”.

CEO Dr Martin Edlund: “Minesto’s second quarter has been characterised by business development driven by the success of Dragon 12” and “We have an ambitious autumn and winter ahead of us”.

CEO Dr Martin Edlund:” Minesto’s first quarter has been significant and lays the foundation for the company’s path towards buildout of commercial arrays. We now have full focus on business development to secure commercial rollout”.

CEO Dr Martin Edlund: ”Historic milestone reached – Dragon 12 energy production to the grid paves the way for buildout of commercial arrays”.

CEO Dr Martin Edlund:” Minesto has a unique competitiveness in the global energy transition”

CEO Dr Martin Edlund:” With the second quarter, we further accelerate our focus on driving large-scale, project-based sales of tidal energy arrays, where reference installations of our smaller power plant Dragon 4 are the key to long term business.”

CEO Dr. Martin Edlund: “The need for our tidal energy technology in the global energy transition has never been more clear and accurate than now”

Minesto’s Annual Report in Swedish for the financial year 2022 is now available on the company’s website.

CEO Dr Martin Edlund: Minesto’s ocean energy technology is now part of the planning and evaluation in the renewable energy transition across the world. 

CEO Dr. Martin Edlund: “Significant potential for green electricity through tides and ocean currents is found in Southeast Asia. At the time of publication of this text, I am on an extensive meeting tour in Japan, Taiwan, Indonesia, and the Philippines; with the aim of accelerating the establishment in one of our most important future markets.”

CEO Dr Martin Edlund: “There are immediate opportunities where our small scale systems and competitive LCOE profile make a difference”.

CEO Dr. Martin Edlund: “With a strong confidence from our financial partners, we continue our dedicated work to demonstrate tidal energy as a commercially viable energy source.”

Minesto’s Annual Report in Swedish for the financial year 2021 is now available on the company’s website.

CEO Dr Martin Edlund: “Minesto’s next generation marine power plants are commercially ready to demonstrate the viability of marine energy as indispensable baseload power in a fully renewable energy system. We are, to say the least, excited to demonstrate the commercial potential of the dragons during the year.”

CEO Dr Martin Edlund: “The development of Dragon Class demonstrates both the technology’s inherent competitiveness and our employees’ ability to efficiently refine the product with customer value in focus. There are further technical advances to be made in the future, but we are confident that the performance, robustness, and functionality of the Dragon Class sets the right platform for commercial scale-up.”

CEO Dr Martin Edlund: “The solid financial position together with the technical and operational progress during the year has provided a powerful platform to deliver our existing projects, scale up the technology, expand industrial collaboration and establish new projects.”

CEO Dr Martin Edlund: “The satisfactory results from operations in the Faroe Islands, both in terms of electricity production and the DG100 system’s performance in automatic mode, provides the right conditions and significant risk reduction to drive the development of larger power plants and the first commercial farms.”

CEO Dr Martin Edlund: “Despite the coronavirus pandemic, during 2020 Minesto has advanced its positions both in technology through delivery to the electricity grid, and on the market side by establishing partnerships with key players in the energy industry.”

Minesto’s CEO Dr Martin Edlund: “The installation activities during the summer showed good progress towards the realisation of cost-effective procedures for the installation and maintenance of Minesto’s power plants. We are now looking forward to demonstrate the commercial viability of our technology and the customer values that this product creates.”